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About Me:

Monkey Mama

Just a 46-year-old mom of 2 in Northern California. My kids are Monkey Monkey(MM) and Drama Llama (DL). I am married to Monkey Hubby (MH).

We were a one-income family for 13 years. In late 2015 my spouse returned to work (minimum wage/part-time/seasonal). Something recent on his resume just buys us more options for the long run. The main benefit of this job is that he just works while the kids are in school. As always, we are saving 100% of his income.

{2023 Update: I expect that MH will retire from this job when kids are done with college and/or home is paid off. I think he likes the idea of finding more interesting or full-time work, with kids both adults now. But practically, might just stick out the *good* and very flexible job as long as possible. The very part-time job is allowing him to pursue his film passions. We are only about 5-ish years away from financial independence. Would be very different if we "needed" the money or he thought he might have decades of working years ahead of him.}

We saved a lot while we were very young and also moved to a lower cost-of-living area, to make life much simpler. We still live in California though (in one of the most expensive regions of the U.S.). *Simple* and *inexpensive* is relative.

Likewise, we have never had debt aside from our mortgage.** My blog is a testament to how much simpler life is without debt; how we have that much more money to both save and enjoy!

**Caveat: I have no problem whatsoever with credit cards paid off monthly, or low-risk credit arbitrage (for example, 0%-interest debt while earning 5% on FDIC-insured cash). These are the kinds of debt we have had. Just not interested in high-interest debt, using debt to buy beyond means, and not interested in the hassle that comes with loans and payments. With age and means, the latter (hassle) is our biggest debt avoidance motivation.

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2024 Goals

[ ]Small monthly Charitable Contribution
...($35 @ 1/31/24)
...Trying to be more mindful about how the little amounts add up and are helpful.
...This is not an all inclusive list of charitable giving but it is a new habit I want to add in addition to other donations of time, goods and money

[ ]Pay cash for college
...This is so much a given, to me. But I realize not everyone can read my mind, and so will memorialize in my goal list.
...#1 We don't do Debt
...#2 The student loan system is a scammy and corrupt mess.
...Seriously, wouldn't touch these student loan servicers with a ten foot pole.
MM YEAR 1 ✔
MM YEAR 2 ✔
MM YEAR 3 ✔
MM YEAR 4

DL YEAR 1 ✔
DL YEAR 2

[ ]$10,000 to savings
...($4,529 @ 3/31/24)
...$1,000/month, plus interest
...Topping off with snowballs

[ ]$7,500 to investments
...($1,750 @ 4/30/24)
...$350/month, plus snowflakes
(Snowflakes: credit card rewards and dividends)
...Topping off with snowballs

[ ]$2,025 to mortgage
...($0 @ 4/30/24)
...Topping off with snowballs and/or excess cash
...Keeps us on track with $10K principal paydown per year

[/]9% of household income to work retirement plans
...(9% @ 3/31/24)
...This is the minimum for the match; I'd otherwise rather fund IRAs.
...Note: Total retirement savings rate is 20% (with IRAs)

Goal savings rate = 25% of gross salary, plus funding IRAs from other sources.

[ ]$14,000 to IRAs 2024 (MAX)
...($0 @ 4/30/24)
...Will fund with MH's income
...Will not fund until the year is over. This is for tax and planning reasons. I won't know what mix of Traditional/ROTH IRA we literally can contribute until we do our 2024 taxes. In addition to that, can make a more informed decision based on our financial and tax situation for the entire year.

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**Long-Term Goals**

[X]$500,000 in retirement accounts by age 45.

Current big picture goal:

[ ]$1 Mil in retirement accounts by age 52.

Stretch Goal: Achieve by age 50

Have decided to pretty much stay the course. Keep saving 20%+ to retirement. This means taking 401K match & maxing out IRAs.

NOTE: WE HAVE NEVER CONTRIBUTED LESS THAN 10% TO RETIREMENT. NO EXCEPTIONS.

If we can't achieve at least 10%, then something else has to give. I share because it's infinitely easier to save for retirement if you start early. Let the investments do the hard work for you.

-------------------------------

Debt: $85,000 mortgage
{Home Purchase Price $290,000}

Ongoing goal is to *never borrow money again.*

Took on a $230k mortgage in 2001 and have not added to that.

-------------------------

Net Worth: Increase net worth by $600,000 in the next 10 years. This is my "financial independence" goal.

2017: +$ 70,000 (partial year)
2018: +$ 51,000
2019: +$105,000
2020: +$104,000
2021: +$215,000
2022: <$ 65,000>
2022: +$ 85,000
TOTAL: +$565,000

This is in line with prior goal, saving 100% of our expenses every year.

{Our expenses are far more consistent than our income. Also, helps to prevent "living up to income."}

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My Pages

Birthday Doings

January 19th, 2015 at 03:09 pm

Dh turned 39!

I had been thinking of getting him a kindle (Voyage?) but then we got a laptop instead and he didn't seem overly enthused.

He is big on the kids getting us gifts for holidays and birthdays because it teaches them to manage money. Which I admit is probably extra important since they seem to have very little opportunity to save up and buy for things - too spoiled by grandparents and circumstance.

That said, LM has -0- in his piggy bank and I welcomed the opportunity to do a less materialistic birthday. (I am fine with his -0- balance. Best to learn these lessons when you are 10 versus 20. & maybe is a nice lesson about money not being everything when it comes to showing love and appreciation).

BUT. Then I thought of the perfect gift and picked it up. I didn't realize dh had put it on his wish list and his MOM bought it for him. UGH! (Mental note - always check the wish list to be sure? I was at first very annoyed at myself for why didn't I coordinate with her, but then I remembered that I thought I Was being much more impromptu. Big Grin At least she gave it to him a week or two early and so we realized a while ago).

Anyway, I was going to cover the kids on that one. Which worked out I guess that I didn't have them pay for it, because now it's in the gift pile for someone else. It leaves me scrambling because that was all I had as far as gifts.

My family always celebrated with FOOD but dh is just not that into it. I did whip up some fudge for him and he did appreciate it. He refused to let me make him dinner or to do anything special meal-wise. But we will go out on a lunch date this week and we also have a dinner event this week. So two dates in one week is not bad.

I asked him again how he felt about the Kindle and the look on his face was he would LOVE it though his words said otherwise. (You know, if money was no object, he'd buy it. & I mean like only if he had a zillion dollars would he buy it). I told him I wasn't planning to buy it this week or anything, BUT we should reconsider in April. I think we had probably decided "no" before his parents gave us a big Christmas check. But, we had also felt like we had been spending a lot of money and we could cool it for a while. (He feels he should wait until the next generation probably - would make more sense. But I don't think it's the worst thing to have an extra hand-me-down for the kids, if he wants to upgrade again in the near future).

Which reminds me why we weren't really going to buy him anything for his birthday in the first place. He got his $3,000 toy a couple of months ago and he is LOVING it.

& so I am thinking ahead to 40. We aren't really big on birthdays and don't make big deals of them. But I was recalling that I surprised dh with a trip to Vegas for his 30th! In the grand scheme of things, don't know if that was the most exciting gift to him. But at the time he was staying home with a newborn and a 2yo. I came home from work and told him to pack his bags because we were leaving for the weekend. Getting away was the best gift I could have dreamed up for him. (I had seen an incredible deal on airfare, which has spurred most my vacations in my younger and lower income years).

So, how do I top that? I don't know. It might be fun to do a party, but the logistics of planning one this time of year is probably pretty horrible. Maybe we should split the difference and do a joint 40th birthday party in the summer. (I turn 40 in December of the same year, so that would be meeting in the middle). I would so much more enjoy a party in the summer. Not in the middle on Holiday and work crazy! I have a whole year or more to ponder that.

Reminds me, dh's Grandma turns 90 next month!

Posted in Just Thinking | 8 Comments »

8 Responses to “Birthday Doings”

FrugalTexan75 Says:
January 19th, 2015 at 04:21 pm 1421684461
1421684461

Birthdays can be hard to figure out sometimes. I think the joint 40th birthday party sounds like a good idea though.
CB in the City Says:
January 19th, 2015 at 05:19 pm 1421687996
1421687996

You don't have to "top" birthdays. The 40th can be lesser in terms of splash and money, and still be just the right gift. (If you figure out what that is!)
MonkeyMama Says:
January 19th, 2015 at 06:28 pm 1421692124
1421692124

I don't want to top the 30th. I just want to think about more than the "not much" that we default to. I am definitely not thinking about spending any money of any note.
MonkeyMama Says:
January 19th, 2015 at 08:50 pm 1421700644
1421700644

Sorry, limited to phone typing today. To clarify, if we did a party I am thinking simple BBQ at our home. Trying to think more creative than spendy. We already have enough vacations and big purchases planned. But I know I didn't say that specifically in my post. Would love to hear what others do for milestone birthdays.
Tabs Says:
January 19th, 2015 at 10:44 pm 1421707483
1421707483

Happy birthday to your DH!

You know, I have to admit I have a bit of gadget hots for the Kindle Paperwhite. Great low power screen that lasts for months, free unlimited 3G download, and of course, the amazing LED back lighting.

Simply superb for those who likes to read via e-readers.
Joan.of.the.Arch Says:
January 20th, 2015 at 03:00 am 1421722808
1421722808

Today is my husband's b-day #62, which we think is significant. We went to his favorite import grocery and bought 3 different beers, a huge jar of honey from Germany, a wedge of herbed French cheese, and a halal sausage flavored with cumin. Just a bunch of unrelated but fun, consumable treats. I also could not resist buying him a box of Dutch licorice buttons which go by the name, "Oldtimers".
Looking Forward Says:
January 20th, 2015 at 06:12 am 1421734356
1421734356

Happy Birthday to MonkeyDaddy!

My DH turns 40 this October... have been thinking of a weekend trip to Vegas (or other nearby destination) and inviting several friends to join.
MonkeyMama Says:
January 20th, 2015 at 01:54 pm 1421762084
1421762084

LF - that sounds fun!

Joan - I was trying to be vague on his birthday and try to keep those things private but it was the 19th. I think we are soul sisters of some sort. (Aren't you also an INFJ?) What is it about those Capricorns?

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Monkey Mama*s Monkey Money Blog

Over Prepare, Then Go With The Flow

Birthday Doings

8 Responses to “Birthday Doings”

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